Bill
Bill > A3427
NJ A3427
NJ A3427Requires HMFA to assume administration of affirmative marketing for affordable housing and reduces municipal responsibility.
summary
Introduced
02/01/2024
02/01/2024
In Committee
02/01/2024
02/01/2024
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill would require the New Jersey Housing and Mortgage Finance Agency (HMFA) to assume administration of and responsibility for the affordable housing marketing plan for all affordable housing units. The bill would eliminate from affirmative marketing plan requirements any other administrative entity of the municipality that is responsible for the creation, implementation, or posting of the affirmative marketing plan. Additionally, the HMFA, instead of the municipality, is required to coordinate with the municipal housing liaison in enforcing the affirmative marketing plan requirements of owners, developers, or property managers. The bill would take effect on the first day of the third month following enactment, except that the HMFA would be permitted to take anticipatory action necessary to effectuate the provisions of the bill.
AI Summary
This bill would require the New Jersey Housing and Mortgage Finance Agency (HMFA) to assume administration of and responsibility for the affordable housing marketing plan for all affordable housing units. It would eliminate the municipal role in the affirmative marketing plan requirements and instead have the HMFA, in coordination with the municipal housing liaison, enforce the plan's requirements on owners, developers, or property managers. The bill also increases the fines for non-compliance and deposits the revenue into the municipality's affordable housing trust fund. The bill would take effect on the first day of the third month following enactment, but the HMFA would be permitted to take anticipatory action to implement its new responsibilities.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
Introduced, Referred to Assembly Housing Committee (on 02/01/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/A3427 |
| BillText | https://pub.njleg.gov/Bills/2024/A3500/3427_I1.HTM |
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